SBA Poll Results: When will you file taxes?

The Question:
April 15 is the tax filing deadline for individuals, partnerships and LLCs. When and how will you file?

7% - We will mail our return(s) by the deadline.

40% - We will e-file our return(s) by the deadline.

10% - We will file an extension, and then mail our return(s).

43% - We will file an extension, and then use the e-file option.

My Comments:
As you can see, we’re very close to an even split between those who planned to file their income tax returns by the deadline and those who planned to file an extension, with the latter being the larger group. But the IRS’s campaign to get us to file electronically seems to be working, since 83% of our sample will use that filing method.

The bad news is that increasingly, taxes have gone up and tax compliance has gotten more complicated and more expensive. The good news is the ability to file an extension or a return, as well to remit taxes due, has gotten easier. Of course, small business owners wish the opposite were the case.

Thanks for participating.

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